BERLIN: Fewer Russian assets are currently frozen in Germany than a year ago, according to a letter from the finance ministry seen by Reuters on Friday.

Germany has around 3.5 billion euros ($3.67 billion) in frozen Russian assets, according to the document. That figure had stayed above the 5-billion-euro mark from 2022 through to mid-2023.

“This sum is subject to valuation fluctuations,” said the ministry’s two-page response to Left Party lawmaker Christian Goerke.

EU’s Kallas wants Russian assets to directly aid Ukraine

The letter did not give details on the distribution of the assets.

“While (Russian President Vladimir) Putin continues to invade Ukraine, the sanctions against Russian oligarchs in this country are losing their effect massively,” said Goerke.